Minneapolis - Both Arctic Cat and Polaris Industries are reporting increased snowmobile sales and larger profits for their respective quarterly results.
Arctic Cat reports snowmobile sales rose 25% to $114.7 million in the fiscal 2012 second quarter, which ended Sept. 30, an increase from $91.5 million in the prior-year's quarter. Cat attributes the boost to its extensive new lineup for 2012, which includes a new chassis. Sales for the first six months rose 22% to $132 million from $108.6 million in the prior year's first six months.
"Once again, revenue grew across all product lines. Sales in the quarter benefited from particularly strong snowmobile sales," said Claude Jordan, Arctic Cat's president and chief executive officer.
For its second quarter, Cat's earnings increased to $21.4 million on sales of $204.8 million. The prior year, Cat reported earnings of $17.8 million on sales of $175.8 million.
For the fiscal year ending March 31, Cat anticipates sales in the range of $530 million to $545 million, an increase of 14% to 17% vs. fiscal 2011.
Total cash and short-term investments rose to $96.6 million up from $80.9 million the previous year.
Meanwhile, Arctic Cat's competitor, Polaris reports snowmobiles sales for its third quarter, ending Sept. 30, rose 23% to $95.1 million compared with last year's $77.3 million.
Sales for the first nine months were $110.9 million, an increase of 31% from $84.8 million. Polaris attributed this to shipping more of its higher priced snowmobiles in the third quarter.
"We expect 2011 will be a record year for Polaris," said Scott Wine, Polaris' chief executive officer.
Polaris' overall third quarter income was up 43% to $67.6 million from $47.2 million the prior year. The company's cash position improved to $198.1 million from $156.9 million for the same period in 2010.
Sales for the third quarter totaled $729.9 million an increase of 26% from last year's quarterly sales of $580.1 million.
Polaris expects 2011 full year sales to grow 45% to 48% from the previous year.
By American Snowmobiler Magazine